CT Attorney General Tong calls for M&T Bank to fix unresolved problems from People's United Bank takeover

Attorney General William Tong is putting pressure on M&T Bank after he says its takeover of People's United Bank left some longtime customers in the lurch.

News 12 Staff

Sep 15, 2022, 9:40 PM

Updated 677 days ago

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Attorney General William Tong is putting pressure on M&T Bank after he says its takeover of People's United Bank left some longtime customers in the lurch.
"We've gotten a bunch of complaints from people that say they're unable to access their account, that they get on the phone line with M&T and they're on hold for a long time, and the call is dropped," said Tong.
He expressed his concerns about the People's United Bank takeover in a letter to M&T Bank this week.
On News 12 Connecticut's Facebook page, some customers say they have had no problem, while others say they are still dealing with the fallout.
Latoya Johnson, of Bridgeport estimates she's spent more than 12 hours on hold and online trying to access her checking accounts. She says she still does not have access to some accounts.
"I still can't pay my son's tuition, I can't pay my car - the bills I normally been paying, and I can't do it because all of this stuff is basically tied up," said Johnson.
There are also concerns about Connecticut jobs in the wake of the takeover. Tong questioned whether People's Bank employees were given fair opportunities under the new ownership.
"Are those jobs similar, do they pay the same, are they the same roles? Or are these lower paying jobs and jobs not in Connecticut? Which doesn't help anybody," he said.
The attorney general is calling for more staff to help untangle any lingering snags.
"They need to dedicate a designated liaison or more than one liaison for customers making the transition. Those liaisons need to be available to customers, they need to be available to me," Tong said.
M&T Bank representatives say they've added staff to Connecticut branches and wait times on the phone have come down over the past week. Tong says he is planning an in-person meeting soon to check in.
"I hope and believe that M&T is committed to making this right, I just want them to show it to us," he said.
M&T Bank Vice President Max Reiss said in part in a statement, "While the vast majority of customers had a successful onboarding and log-in experience, we know the experience for others has fallen short of our expectations, and we are not going to rest until every single customer is satisfied."


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